The primary aim of this Frost & Sullivan report is to examine the factors influencing the growth of extended reality (XR) technologies in the energy industry. XR refers to the spectrum of immersive experiences and technologies that blur the line between the real and the simulated world through audio, visual, and haptic cues. It is at the heart of the futuristic digital transformation, which aims to offer immersive and assisted experiences through a 3D virtual environment within or on top of the real world.
Frost & Sullivan conducts an annual survey targeting IT and business decision-makers to gather their opinions on various technologies. This year, the survey includes a new section focused on understanding the perception and utilization of immersive technologies and the metaverse in the energy sector. This study analyzes how respondents evaluate immersive technologies and the metaverse across various characteristics to gain insights into business priorities and identify major differentiating factors. The results offer a glimpse into enterprise decision-making processes, including:
• How organizations are using or planning to utilize immersive technologies and the metaverse
• The primary concerns and interests organizations have regarding the implementation of these technologies
The report forecasts revenues of the total market and provides individual forecasts by type of XR technology. Applying XR technology segmentation by type, the study forecasts the virtual reality (VR) market separately from the augmented reality (AR) and mixed reality (MR) market. The report groups AR and MR technologies together as AR-MR because both experiences merge elements of real and virtual worlds, unlike a fully simulated or user-immersed VR experience. Additionally, this report analyzes existing and future growth opportunities for digital twins (DTs) across various energy industry segments, as successful extended reality (XR) deployments in this sector will require the seamless integration of cross-industry solutions, including DTs.
The study analyzes the factors driving and restraining growth in this market and identifies the growth opportunities emerging from changes in this space for market players and stakeholders to leverage. The base year is 2023, and the forecast period is from 2024 to 2028.
Author: Lucrecia Gomez
Scope of Analysis
VR/AR-MR Market Scope of Analysis
Definitions
VR/AR-MR Technologies—Spectrum of Immersiveness
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on XR, the Newest Frontier of the Energy Transition
Growth Drivers
Growth Restraints
VR/AR-MR Revenue Forecast
VR/AR-MR Revenue Forecast (continued)
Immersive Digital Services—Level of Knowledge
Interest in Immersive Technologies
Major Concerns about Investing in Immersive Digital Services
Evaluating and Deploying Immersive Digital Technologies
XR Growth Opportunities
Deconstructing the Metaverse Wheel
The Metaverse—Level of Knowledge
Evaluating and Deploying Metaverse-related Tech
The Metaverse’s Potential for Organizations
Benefits of Entering the Metaverse
DT Technology Potential
Growth Drivers
Growth Restraints
DT Revenue Forecast
DT Revenue Forecast (continued)
DTs in Power Generation
DTs in Transmission and Distribution (T&D)
DTs in Storage and Utilization
DT Growth Opportunities
Growth Opportunity 1: 5G Implementation
Growth Opportunity 1: 5G Implementation (continued)
Growth Opportunity 2: Training
Growth Opportunity 2: Training (continued)
Growth Opportunity 3: Open-source Platforms
Growth Opportunity 3: Open-source Platforms (continued)
Benefits and Impacts of Growth Opportunities
Action Items & Next Steps
List of Exhibits
Legal Disclaimer
List of Figures- XR: Growth Drivers, Global, 2024–2028
- XR: Growth Restraints, Global, 2024–2028
- XR: AR-MR Revenue Forecast, Global, 2023–2028
- XR: VR/AR-MR Revenue Forecast by XR Technology Type, Global, 2023 and 2028
- Knowledge of Immersive Digital Services, Global, 2023
- Level of Interest in Immersive Technologies, Global, 2023
- Main Concerns about Immersive Services, Global, 2023
- Deployment of Immersive Technologies, Global, 2023
- Deployment of the Metaverse, Global, 2023
- Perceived Potential of the Metaverse, Global, 2023
- Main Benefits for Joining the Metaverse, Global, 2023
- DTs: Growth Drivers, Global, 2024–2028
- DTs: Growth Restraints, Global, 2024–2028
- DTs: Revenue Forecast, Global, 2023–2028
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Research |
|---|---|
| Author | Lucrecia Gomez |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | extended reality energy |
| Keyword 2 | XR in energy sector |
| Keyword 3 | XR market growth |
| List of Charts and Figures | XR: Growth Drivers, Global, 2024–2028~ XR: Growth Restraints, Global, 2024–2028~ XR: AR-MR Revenue Forecast, Global, 2023–2028~ XR: VR/AR-MR Revenue Forecast by XR Technology Type, Global, 2023 and 2028~ Knowledge of Immersive Digital Services, Global, 2023~ Level of Interest in Immersive Technologies, Global, 2023~ Main Concerns about Immersive Services, Global, 2023~ Deployment of Immersive Technologies, Global, 2023~ Deployment of the Metaverse, Global, 2023~ Perceived Potential of the Metaverse, Global, 2023~ Main Benefits for Joining the Metaverse, Global, 2023~ DTs: Growth Drivers, Global, 2024–2028~ DTs: Growth Restraints, Global, 2024–2028~ DTs: Revenue Forecast, Global, 2023–2028~ |
| Podcast | No |
| WIP Number | K893-01-00-00-00 |
Extended Reality, the New Frontier of the Energy Transition, Global, 2024–2028
Immersive Technologies Will Reshape Business Strategies and Drive the Seamless Integration of Cross-industry Solutions
13-Dec-2024
Global
Market Research